This Brics Tourism Spend Analytics Forecast market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Brics Tourism Spend Analytics Forecast market.
BRICS denotes a grouping of five emerging economies of the world that are Brazil, Russia, India, China and South Africa. As these five countries are showing a positive economic outlook and strong potential for growth, they are the obvious choice as being the most sought after and attractive tourist destinations, both inbound and outbound. A rising affluent and middle class in all these five countries, especially China and India holds a great potential for the development of tourism in this bloc of countries.
BRICS Tourism Spend Analytics: Drivers and Restraints
Sound economic fundamentals and rising economic prosperity of BRICS nations is one of the key driving factors for the development of tourism in this bloc. There is a rise in disposable income in these countries and a new affluent middle class has emerged in these countries that spends greatly on tourism and leisure. Especially, countries such as China and India are leading the world in terms of outbound tourism and are showing promising growth even in the inbound tourism sector. However, external factors such as terrorism may make a dent in the inflow of tourists in this bloc of nations. Also, the tourist infrastructure in countries such as India is still developing and may not be developed as per the desired levels. This may act as a restraint in the development of tourism in BRICS. However, tourism being an important sector of the economy of BRICS, all the concerned governments are encouraging the development of tourist infrastructure and spending on the development of adequate facilities for the international travellers.
BRICS Tourism Spend Analytics: Key Statistics
As per the data provided by the World Travel and Tourism Council, the direct share of travel and tourism to the India’s GDP was INR 2668.3 Bn in the year 2015, which comprised 2.0% of the total GDP of India. This is forecasted to increase by 7.1% in the year 2016 and is projected to rise by 7.9% per annum during the forecast period of 2016-2026 and reach a figure of INR 6115.5 Bn in the year 2026, and will comprise 2.4% of the total GDP.
In the year 2015, visitor exports in India generated INR 1249.3 Bn, which comprised 4.2% of the share of the total exports. This is forecast to grow by 5.3% in the year 2016, and is projected to grow by 7.2% per annum, reaching a figure of INR 2625.6 Bn in the year 2026, which will comprise 3.8% of the total exports of India.
As per the data provided by the World Travel and Tourism Council, travel and tourism contributed BRL 190.5 Bn to the Brazilian GDP in the year 2015 that comprised 3.3% of the entire GDP of Brazil. This is forecast to fall by 0.9% in the year 2016 and is projected to rise by 2.9% per annum during the forecast period of 2016-2026 and reach a figure of BRL 251.8 Bn in the year 2026, and will comprise 3.7% of the total GDP.
In the year 2015, visitor exports in Brazil generated BRL 20.4 Bn, which comprised 2.7% of the share of total exports. This is forecast to grow by 8.2% in 2016, reaching a figure of BRL 47.3 Bn in the year 2026, which will comprise 3.5% of total exports of Brazil.
According to World Travel and Tourism Council data, the share of travel and tourism to Chinese GDP was CNY 1407.9 Bn in the year 2015 that comprised 2.1% of the total GDP of China. This is forecast to rise by 6.1% in the year 2016, and is projected to grow by 7.4% per annum during the forecast period of 2016-2026 and reach a figure of CNY 3064.3 Bn in the year 2026, and will comprise 2.6% of the total GDP.
In the year 2015, visitor exports in China generated CNY 384.6 Bn, which comprised 2.6% of the share of total exports. This is forecast to grow by 2.1% in 2016, reaching a figure of CNY 404.2 Bn in the year 2026, which will comprise 1.9% of total exports of China.
As per the World Travel and Tourism Council data, the share of travel and tourism to Russian GDP was RUB 1106.3 Bn in the year 2015 that comprised 1.5% of total GDP of Russia. This is forecast to rise by 1.5% in the year 2016, and is projected to grow by 3.4% per annum during the forecast period of 2016-2026 and reach a figure of RUB 1574.1 Bn, and will comprise 1.8% of the total GDP.
In the year 2015, visitor exports in Russia generated RUB 826.0 Bn, which comprised 3.5% of the share of total exports. This is forecast to grow by 6.4% in 2016, reaching a figure of RUB 1592.3 Bn in the year 2026, which will comprise 6.1% of total exports of Russia.
According to the data provided by World Travel and Tourism Council, the share of travel and tourism to South African GDP was ZAR 118.6 Bn in the yeah Ar 2015 that comprised 3.0% of the total GDP of South Africa. This is forecast to rise by 3.9% in the year 2016, and is projected to grow by 3.8% per annum during the forecast period of 2016-2026 and reach a figure of ZAR 178.3 Bn, and will comprise 3.4% of the total GDP.
In the year 2015, visitor exports in South Africa generated ZAR 115.0 Bn, which comprised 9.1% of the share of total exports. This is forecast to grow by 5.1% in 2016, reaching a figure of ZAR 211.6 Bn in the year 2026, which will comprise 11.8% of total exports of South Africa.
This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.
The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.
The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.
What Can Readers Expect from this Report?
- An overview of the sector, including the key factors that have shaped patterns and demand
- Not just data, but insights that you can incorporate in your strategic decision making
- Nuanced underlying factors that influence consumer behaviour
- Data points to understand the past, analyse the present, and project the future
- Trends that will impact the sector in the short- and long-term
- Deeper understanding of the target audience, their motivations, aspirations, and expectations from service providers
Unique Requirements? Customize this Report
- Customize by Region, Country, Application, Product, & other segments
- Integrate our Insights with your Existing Data
- Determine the scope of the study to suit your requirements
Let FMI Help You!
- Gain Insights on Key Brics Tourism Spend Analytics Forecast Impacting Forces
- Know the Winning Strategies of Market Leaders
- Get Deep-Dive Analysis on Each Segment
- Identify the Sources that will Drive Top-Line Revenue
Brics Tourism Spend Analytics Forecast
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Brics Tourism Spend Analytics Forecast report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Brics Tourism Spend Analytics Forecast. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Brics Tourism Spend Analytics Forecast report?
In addition to up-to-date market figures and customized of the Brics Tourism Spend Analytics Forecast, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.